MasTec (NYSE:MTZ) Price Target Raised to $168.00 at KeyCorp

MasTec (NYSE:MTZ) had its price objective increased by KeyCorp from $153.00 to $168.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other brokerages have also recently commented on MTZ. TD Cowen raised their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. B. Riley restated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Guggenheim initiated coverage on MasTec in a report on Wednesday. They set a “buy” rating and a $195.00 price objective for the company. Finally, UBS Group boosted their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.07.

MasTec Trading Up 0.2 %

Shares of MTZ stock opened at $146.72 on Wednesday. MasTec has a 1-year low of $60.96 and a 1-year high of $150.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business’s fifty day moving average price is $138.82 and its 200 day moving average price is $122.01. The firm has a market capitalization of $11.63 billion, a PE ratio of 131.00 and a beta of 1.74.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,023 shares of company stock valued at $4,515,089. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in shares of MasTec in the 2nd quarter valued at $79,494,000. Hood River Capital Management LLC lifted its holdings in shares of MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after purchasing an additional 289,090 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.